Disability Income Insurance Options
Disability income (DI) insurance is able to compensate a policy holder in the event of an accident or illness that results in lost wages due to being unable to operate in one’s regular employment duties. A lot of employers offer a group disability insurance scheme as part of the employment package, so that’s going to provide cover for most workers. However, for certain professionals, such as the self-employed its necessary to obtain a disability income plan direct from one of the specialist insurance companies.
The individual disability insurance schemes often provide a maximum pay out in the region of 60 – 70 percent of the policy holders gross annual income. Insurance companies limit the compensation package to encourage the insured to return to work as soon as possible.
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Tags: Compensation Package, Disability Income Insurance, Disability Income Plan, Insurance Scheme, Standard Of Living